Daily Scoop 22-7-26

View this email in your browser

Today's Scoop:Sinking

Love your daily scoops? Support the mission by recruiting a friend and unlocking premium content!   

Big Picture

1. Home buyers are leaving the market amidst high prices and rates.

2. Consumers continue to lose optimism in the economy.

3. Inflation is shifting consumer spending.

The Market: 

⬇️

-1.2%

S&P 500: 3,921.05

1Mo:

+1%

| 1Yr:

-11%

| 5Yr: 

+59%

Markets drifted lower today as investors worried about inflation affecting consumer spending habits.

Inflation is shifting everyone's budgets.

Reports from major retailers, like Walmart and Adidas, and financial companies, like American Express and Visa, confirmed that the volume of spending hadn't slowed much. What consumers are spending on is shifting, though. Surging costs for necessities like food, energy, and shelter are eating into spending on more discretionary items like clothing and electronics. 

Home buying is slowing too amidst high mortgage rates and prices.

The US Census Bureau reported an 8% decline in new home sales in June from May. After years of being unable to build homes quickly enough to keep up with demand, homebuilders are now growing inventory. 

Inflation continues to dent consumer optimism.

The  Conference Board reported a third consecutive monthly decline in their consumer confidence index.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Uber

confesses to a cover-up affecting millions

-

McDonald's

reports happy sales

- 

Walmart

shifts to discount mode

- 

General Motors

can't ship cars

- 

Boeing

workers go on strike

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

Earnings season

is full of "

beats

" and "

misses

." The news reports refer to whether the company reported more or less profit/revenue/whatever for the quarter than investors expected. Wall Street Analysts make projections, and then media outlets will compare the reported financial figures to the average of the Analysts' expectations. Having a tiny bit more or less revenue or profit than the average range of expectations isn't typically something to worry about, especially when it's only three months of a company's lifetime. The important stuff is the report's context and whether the company feels confident about the future.

Make sure your inbox doesn't hide your Scoops

To prevent our emails from getting moved to your promotions or spam:

Gmail

: Move the Scoop to your "Primary" inbox:

• On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.

• On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.

Apple

: Select the Scoops email at the top. Choose "Add to VIP"

You can find instructions here for all other email clients:

Save Scoops from your spam

💙 Share the scoop!

1. Share your unique link with friends & coworkers (forward or copy)

2. When they sign up you unlock exclusive rewards

3. Keep on sharing to unlock more rewards

Forward your unique link:

*|SHAREURL|*

You have made referrals